GoPro stock is soaring after YouTube star Markiplier buys an 8.5% stake
For most of August, shares of GoPro traded for about 60 cents as the once-lauded action-camera maker faded toward what seemed like a near-certain delisting and possible collapse. But as September kicks off, the stock is soaring, at least compared with its previous levels. Shares were up nearly 80% at one point Tuesday as investors found renewed hope for the company. And it’s all thanks to a…
GoPro's stock has seen an impressive surge in recent days, with shares jumping nearly 80% on Tuesday alone. This rise in value comes as a result of a significant investment from YouTube personality Markiplier, who has purchased an 8.5% stake in the company. The move has drawn comparisons to the GameStop frenzy of earlier this year, with Markiplier explaining that he believes the stock is undervalued and that he wants the company to succeed.
Markiplier's influence on this particular investment is noteworthy, given his large following of 38.9 million subscribers on his YouTube channel, which focuses on video-game playthroughs and commentary. He has been active in the industry for over 15 years and gained fame after producing and directing the film Iron Lung, which earned over $50 million at the box office.
His connection to GoPro goes even further, as he used the company's cameras to shoot behind-the-scenes footage for the movie and became the company's largest individual shareholder after being granted an invitation to the company's headquarters.
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